The compensation structures for private equity investment staff at US public pensions have attracted growing attention. Private Equity International examined the frameworks of the top 10 US public pensions as per the Global Investor 150 ranking. The largest funds take markedly different approaches to rewarding investment staff as boards navigate talent competition, legal constraints, and questions over private equity benchmarks.

Some funds are discussing how best to structure incentive pay amid scrutiny of peer practices. These contrasting strategies reflect the evolving landscape of talent management in institutional investing.